Daily Notes 06-09-2023
Daily Notes 06-09-2023
Developments
Arkham has identified Grayscales on chain addresses for the Grayscale Bitcoin Trust.
Grayscale is the 2nd largest Bitcoin holder, holding 627,779 Bitcoin valued at $16.11 Billion.
Ark & 21Shares File For An ETH ETF
Ark Invest & 21Shares have applied for an Ethereum spot ETF with the SEC.
The Ethereum would be custodied by Coinbase and if successful, the fund would trade on the Cboe BZX Exchange.
Alex Mashinsky’s banking and real estate assets have been frozen by the United States District court (of southern NY city).
The order, unsealed to the public today, froze 8 bank accounts held in the Koala1 LLC, AM Ventures Holdings Inc or Alex Mashinsky/& Kristine Meehan (aka Kristine/Krissy Mashinsky) names as well as a Texas property valued at $2.4 million.
Earlier in February of this year, in a 150 page legal document from the lawsuit by Celsius network and it’s creditors, the AM Ventures Holdings inc and Koala LLC entities were reported to have received $12 million and $5 million respectively.
An investigation by Coffeezilla published in October of 2022 also labelled one on-chain address as Koala1 which was sent $1.64 million (USDC) of Koala1’s total $5 million from Alex Mashinsky in May of 2022.
Coinbase Derivatives
Coinbase’s average daily derivatives volume has climbed to $50.1 million so far this quarter. This is almost double the volume traded since their launch in Q4 of 2022.
Binance Ban Privacy Coin Trading In Belgium
Binance has banned the trading of privacy coins Monero ($XMR), MobileCoin ($MOB), Firo ($FIRO) and Horizen ($ZEN) for Belgian users.
Any Belgian user with a Binance loan/ VIP loan involving these coins will be automatically liquidated on September 19 at 02:00 CET.
Genesis File Lawsuit Against DCG
Genesis Global capital, who filed for bankruptcy in January 2023, has filed a lawsuit against Digital Currency Group (DGC) and Digital Currency Group International (DCGI) to recoup $600 million in unpaid loans that were given to DCG & DCGI in November of 2022 with the loans having matured in mid May of this year.
Due to the delay, Genesis will also be seeking late fees and accrued interest.
Note that Genesis and DCGI are subsidiaries of DCG.
Trending Assets
Top 300 Performers
Worldcoin up 18% today, largely against market beta. Another interesting coin up today is ENJ, which has seen an increase in OI.
Top 300 Losers
CFG retraced some of its up move from yesterday on low volume, whilst Su Zhu’s OX is down 8% today.
Above $1B MC by performance, on chain
LINK is up 2.23% and UNI up 1.97%, as the rest of the large caps underperform.
TVL
TVL Above $10M
Over the past day:
Alchemix, multichain synthetics protocol, TVL is up 32.12%.
ParaSpace Lending V2, lending on Ethereum, TVL is up 24.46%.
Railgun, multichain privacy protocol, TVL is up 10.59%.
Fees
Nothing particularly notable in terms of fees earned. PancakeSwap fees earned are up 33.06% while Opensea Seaport fees earned are down 89.70% over the past day.
Governance Proposals
MIP22 - List sDAI and USDT as Collateral on the AaveV3-ETH Optimizer
Morpho proposal to list sDAI and USDT as collateral only on the AaveV3-ETH Optimizer.
Articles / Threads
Gearbox launched leverage and credit on the following Curve V2 pools:
Tricypto: ETH, WBTC and USDT pool on Curve and Convex
LDO/ETH pool on Curve and Convex
CVX/ETH pool on Curve and Convex
TriCRV: CRV + crvUSD + ETH pool on Curve and Convex* (subject to DAO approval and deployment in a couple weeks)
Additionally, they will be converting 50% of treasury USDC to LUSD and will be launching a spot leverage trading dApp.
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